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This study identifies major approaches in token design for founders in the cryptocurrency/web3/blockchain space. The high failure rate of blockchain companies means that successful long-term performance will depend greatly on well-designed tokens. This study will integrate all prior research to highlight the most important aspects of structured tokenomics, including token utility, governance, and security. The study also contributes to the literature by introducing the Business Model Canvas as a conceptual framework that enables the integration of best practices for token design, drawing on both academic and industry literature. The results indicate significant gaps in the literature. This study offers new and practical insights for founders to enhance stakeholders’ engagement, improve regulatory compliance, and ensure project viability in the volatile cryptocurrency market. Furthermore, this research generates new knowledge that bridges the gap between the theory and practice of tokenomics, laying the groundwork for future research to develop and refine token design strategies.
Mohammad et al. (Wed,) studied this question.